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April 28, 2015

DataTorrent Closes $15M Series B Financing Round

SANTA CLARA, Calif., April 28 —  DataTorrent, the leader in real-time big data analytics and creator of the world’s first enterprise grade real-time stream processing platform (RTS) on Hadoop, today announced that it has closed a $15 million Series B financing round. This round is led by Singtel Innov8, with additional participants including GE Ventures and all existing investors from the company’s Series A round. In conjunction with today’s announcement, Singtel Innov8 Managing Director Jeff Karras will join the company’s board of directors.

The new funding brings the total amount raised to $23.8 million and caps off a year of milestones for the company including two releases of the DataTorrent RTS platform, the introduction of two private beta projects that enable faster time to insight and drag and drop application development and the company’s recognition by Gartner as a “Cool Vendor.” The company previously raised an $8 million Series A round in June 2013, led by August Capital. Other participants in that round included AME Cloud Ventures and Morado Venture Partners.

Big data is increasingly stretching the business intelligence and analytics needs of enterprises, with organizations demanding faster insight and time-to-action for both data-in-motion and data-at-rest. The DataTorrent RTS platform provides end-to-end data pipeline optimization including data ingestion, transformation, advanced analytics, alerting and automated actions. Additionally, the platform’s open source library of hundreds of Java-based operators enables rapid big data application development.

“More and more organizations are looking towards big data analytics to provide valuable insights for their business operations, but lack easy to use, intuitive tools for big data to uncover these insights in a timely manner themselves,” said Karras. “The DataTorrent platform uniquely enables broad accessibility of analytics for both batch and stream processing allowing organizations glean faster insights and to unlock the value of their data.”

“As more machines are connected to the Industrial Internet, industrial organizations are generating an overwhelming amount of data at high velocity,” said Brett May, Head of Venture Capital and M&A at GE Software. “DataTorrent enables companies to capture and use structured or unstructured data to gain insight and take action in real time. We are excited to see the product innovation at DataTorrent and to support their continued growth.”

“With a customer base that includes Fortune 100 companies as well as innovative web-based organizations, DataTorrent continues see demand across the enterprise for the DataTorrent RTS big data analytics solution” said Phu Hoang, co-founder and CEO, DataTorrent. “Today’s investment will allow us to continue to innovate our platform and make data analytics accessible to enterprise customers at all levels and roles – data center operations, developers, data scientist and business analysts.”